Invesco India ETF
ALTAR
Score™		 5.4% info Recommen-
dation		 UNDERWEIGHT
2025E    2026E
P/E
ratio		 19.7x P/Sales
ratio		 2.0x
P/BV
ratio		 2.6x Div.
yield		 1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco India Portfolio seeks investment results that correspond to the price and yield of the Indus India Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Mar 05, 2008
Assets (mns) $131
Currency USD
Expense ratio 78 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 36
Wgt avg mkt cap (mns) $50,742
Large cap (>$10bn) 81.1%
Mid cap ($2-10bn) 17.7%
Small cap (<$2bn) 0.4%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
POLYCAB INDIA LTD. 4.7 %
OBEROI REALTY LTD 3.9 %
NMDC LTD 3.8 %
BAJAJ AUTO LIMITED 3.8 %
HINDALCO INDUSTRIES LIMITED 3.7 %
MAX INDIA LIMITED 3.7 %
TITAN INDUSTRIES LIMITED 3.6 %
TORRENT POWER LTD 3.6 %
BANK OF BARODA 3.5 %
CANARA BANK 3.5 %
Total 37.8 %

TOP COUNTRY EXPOSURE
INDIA 93.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.9% -19.0% 2.7% 7.2% 2.7%

Market Correlations
versus... Beta R-squared
S&P500 0.63 23%
MSCI EAFE 0.61 33%
MSCI Emg. Mkts. 0.40 28%

Technical Indicators
Recent close $19.86
30d moving avg. $20.72
Annualized volatility 14.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 28
Turnover 0.4%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $832

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 120 potential alternatives to the Invesco India ETF ETF based on the alternatives' overlap in portfolio holdings with PIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PIN Expense: 78 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PIN
Ticker Fund
Name		 Overlap1
vs PIN
(%)		 Expense
ratio
(bp)		 Savings
vs PIN
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PIN
(%)
GLIN VanEck India Growth Leaders ETF 22.0 77 1 5.5 +0.1
INDY iShares India 50 ETF 19.7 89 -11 5.3 -0.1
EPI WisdomTree India Earnings Fund 19.1 85 -7 5.2 -0.2
INDA iShares MSCI India ETF 18.4 65 13 4.6 -0.8
NDIA Global X India Active ETF 15.7 75 3 5.1 -0.3
INCO Columbia India Consumer ETF 15.0 75 3 2.1 -3.3
FLIN Franklin FTSE India ETF 14.2 19 59 4.1 -1.2
RNEM First Trust Emerging Markets Equity Select ETF 11.8 75 3 7.9 +2.5
JIVE JPMorgan International Value ETF 9.7 55 23 8.1 +2.7
DGIN VanEck Digital India ETF 6.7 71 7 1.4 -3.9
BKF iShares MSCI BIC ETF 5.9 69 9 14.8 +9.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 5.1 25 53 6.2 +0.8
EMMF WisdomTree Emerging Markets Multifactor Fund 4.8 48 30 8.8 +3.5
XC WisdomTree Emerging Markets Ex-China Fund 4.5 32 46 6.5 +1.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 4.2 95 -17 10.2 +4.8
IPAV Global X Infrastructure Development ex-U.S. ETF 4.1 55 23 6.1 +0.7
ROAM Hartford Multifactor Emerging Markets ETF 3.9 44 34 7.8 +2.4
VEXC Vanguard Emerging Markets Ex-China ETF 3.8 7 71 5.8 +0.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.7 30 48 7.7 +2.3
DEHP Dimensional Emerging Markets High Profitability ETF 3.7 41 37 5.0 -0.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 3.6 32 46 4.9 -0.4
FDEM Fidelity Emerging Markets Multifactor ETF 3.6 25 53 10.7 +5.4
ECON Columbia Emerging Markets Consumer ETF 3.5 49 29 6.8 +1.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 3.4 35 43 10.3 +5.0
NXTG First Trust Indxx NextG ETF 3.4 70 8 3.7 -1.7
XCNY SPDR S&P Emerging Markets ex-China ETF 3.4 15 63 5.8 +0.4
SDEM Global X MSCI SuperDividend Emerging Markets ETF 3.3 67 11 12.4 +7.1
GMF SPDR S&P Emerging Asia Pacific ETF 3.3 49 29 8.8 +3.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 3.3 88 -10 8.4 +3.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 3.2 40 38 6.4 +1.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 3.1 24 54 5.4 +0.0
JHEM John Hancock Multifactor Emerging Markets ETF 3.0 49 29 7.7 +2.4
EEMA iShares MSCI Emerging Markets Asia ETF 2.9 49 29 7.7 +2.4
EMGF iShares Emerging Markets Equity Factor ETF 2.9 25 53 9.2 +3.8
EMDM First Trust Bloomberg Emerging Market Democracies ETF 2.8 75 3 6.6 +1.2
EMXC iShares MSCI Emerging Markets ex China ETF 2.7 25 53 5.3 -0.1
SCHE Schwab Emerging Markets Equity ETF 2.7 11 67 9.5 +4.2
JADE JPMorgan Active Developing Markets Equity ETF 2.7 65 13 6.2 +0.8
STXE Strive Emerging Markets Ex-China ETF 2.6 32 46 5.5 +0.1
XCEM Columbia EM Core ex-China ETF 2.5 16 62 5.1 -0.2
VWO Vanguard FTSE Emerging Markets ETF 2.5 7 71 9.3 +3.9
AVES Avantis Emerging Markets Value ETF 2.4 36 42 9.2 +3.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 2.4 39 39 13.7 +8.3
SPEM SPDR Portfolio Emerging Markets ETF 2.4 7 71 9.6 +4.2
FLAX Franklin FTSE Asia Ex Japan ETF 2.4 19 59 7.4 +2.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 2.4 70 8 7.2 +1.8
DEM WisdomTree Emerging Markets High Dividend Fund 2.3 63 15 10.4 +5.1
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 2.2 15 63 8.2 +2.9
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 2.1 69 9 7.8 +2.4
EEM iShares MSCI Emerging Markets ETF 2.1 69 9 8.1 +2.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 2.1 53 25 5.3 -0.0
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.1 33 45 6.3 +1.0
DFAE Dimensional Emerging Core Equity Market ETF 2.1 35 43 7.2 +1.9
PXH Invesco FTSE RAFI Emerging Markets ETF 2.0 49 29 13.5 +8.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.0 44 34 9.5 +4.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.0 45 33 8.3 +2.9
EYLD Cambria Emerging Shareholder Yield ETF 2.0 66 12 9.2 +3.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 2.0 30 48 8.2 +2.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 2.0 66 12 7.5 +2.2
BKEM BNY Mellon Emerging Markets Equity ETF 2.0 11 67 24.9 +19.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.9 36 42 7.9 +2.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.9 32 46 7.8 +2.4
AVEM Avantis Emerging Markets Equity ETF 1.9 33 45 7.3 +1.9
IEMG iShares Core MSCI Emerging Markets ETF 1.9 9 69 8.5 +3.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.9 50 28 8.5 +3.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.8 47 31 5.0 -0.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.7 38 40 7.3 +1.9
NUEM Nuveen ESG Emerging Markets Equity ETF 1.7 36 42 6.1 +0.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.6 41 37 7.1 +1.8
DVYE iShares Emerging Markets Dividend ETF 1.6 49 29 17.8 +12.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.5 15 63 9.1 +3.8
DFEV Dimensional Emerging Markets Value ETF 1.4 43 35 9.7 +4.3
EMC Global X Emerging Markets Great Consumer ETF 1.4 75 3 7.4 +2.1
ACWV iShares MSCI Global Min Vol Factor ETF 1.4 20 58 5.7 +0.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 1.4 59 19 8.8 +3.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.4 33 45 6.9 +1.6
SMIN iShares MSCI India Small Cap ETF 1.3 79 -1 3.3 -2.0
PICK iShares MSCI Global Metals & Mining Producers ETF 1.2 39 39 8.6 +3.2
ESGE iShares ESG Aware MSCI EM ETF 1.2 25 53 8.5 +3.1
LDEM iShares ESG MSCI EM Leaders ETF 1.1 17 61 13.0 +7.7
FEM First Trust Emerging Markets AlphaDEX Fund 1.1 80 -2 9.1 +3.8
CGXU Capital Group International Focus Equity ETF 1.1 54 24 3.9 -1.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.1 45 33 9.6 +4.2
AVSE Avantis Responsible Emerging Markets Equity ETF 1.1 33 45 6.9 +1.5
LEGR First Trust Indxx Innovative Transaction & Process ETF 1.1 65 13 7.4 +2.0
EMXF iShares ESG Advanced MSCI EM ETF 1.1 16 62 6.8 +1.4
EEMO Invesco S&P Emerging Markets Momentum ETF 1.0 29 49 7.0 +1.6
IQDF FlexShares International Quality Dividend Index Fund 0.9 47 31 7.5 +2.2
SCHY Schwab International Dividend Equity ETF 0.8 14 64 8.3 +3.0
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.8 47 31 7.2 +1.9
VEU Vanguard FTSE All-World ex-US Index Fund 0.7 4 74 6.7 +1.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.7 34 44 6.4 +1.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.7 18 60 6.4 +1.0
MEM Matthews Emerging Markets Equity Active ETF 0.7 79 -1 8.8 +3.5
VXUS Vanguard Total International Stock ETF 0.7 5 73 6.7 +1.3
IXUS iShares Core MSCI Total International Stock ETF 0.6 7 71 6.6 +1.3
KNCT Invesco Next Gen Connectivity ETF 0.6 40 38 3.1 -2.3
CGGO Capital Group Global Growth Equity ETF 0.6 47 31 4.1 -1.2
CWI SPDR MSCI ACWI ex-US ETF 0.6 30 48 6.5 +1.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.6 41 37 5.9 +0.6
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.6 30 48 6.5 +1.1
MINV Matthews Asia Innovators Active ETF 0.6 79 -1 5.6 +0.2
VSGX Vanguard ESG International Stock ETF 0.5 10 68 6.6 +1.3
VYMI Vanguard International High Dividend Yield ETF 0.5 17 61 7.8 +2.4
DGT State Street SPDR Global Dow ETF 0.4 50 28 5.6 +0.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.3 46 32 7.9 +2.6
AQLT iShares MSCI Global Quality Factor ETF 0.3 18 60 0.0 -5.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 66 4.5 -0.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.3 70 8 6.8 +1.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.3 42 36 4.1 -1.2
ACWI iShares MSCI ACWI ETF 0.3 32 46 4.7 -0.7
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 58 4.8 -0.6
VT Vanguard Total World Stock ETF 0.2 6 72 5.1 -0.3
GLOF iShares Global Equity Factor ETF 0.2 20 58 5.6 +0.3
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.2 12 66 8.5 +3.1
KLMT Invesco MSCI Global Climate 500 ETF 0.1 10 68 5.0 -0.4
SDG iShares MSCI Global Sustainable Development Goals ETF 0.1 49 29 4.6 -0.7
DEW WisdomTree Global High Dividend Fund 0.1 58 20 7.0 +1.6
IGRO iShares International Dividend Growth ETF 0.1 15 63 6.6 +1.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 69 4.9 -0.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Invesco India ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.3 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 78 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.